Home BusinessEconomy The Carried Interest Loophole Survives Another Political Battle

The Carried Interest Loophole Survives Another Political Battle

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Some analysts were skeptical that lawmakers would actually change the treatment of the accelerated interest tax in the final bill. Although it became a high-profile target, the changes Democrats sought would have raised little tax revenue compared to other provisions of the law known as the Inflation Reduction Act.

“Carrie Interest became a MacGuffin James Russier, an analyst at Capital Alpha Partners, a Washington policy research firm, explains that this is simply a literary device the author has put in to make the plot more interesting. It took our attention away from what was really important going on in the story, making the final surprising conclusion all the more surprising.”

On Friday, some progressive policy experts scoffed at the removal of the carry forward clause, which they viewed as only a minor improvement from current law.

Gene Ross, a senior fellow at the Center for American Progress, a liberal research group in Washington, said, “The proposal, which was included in the bill last night, would allow technology to determine the holding period of assets subject to effective interest treatment. properly adjusted,” he said. “A better approach would be to tackle this issue head-on and say that remuneration for the services of managing investment funds should be taxed in the same way as work and normal tax rates should apply.”

Ross added he was happy with the addition of a tax on share buybacks, which some Democrats and their supporters have long supported, and said companies would invest in their own stock rather than invest in research and development and investment. He claimed he spent a lot of money on the buyback. Give workers a raise.

Cinema himself said little about the law, or why he thought it was so important to maintain the treatment of deferred interest taxes.

“We agreed in the Senate Budget Reconciliation Act to remove carry interest tax provisions, protect advanced manufacturing and boost the clean energy economy,” she said in a statement Thursday. .

Alan Rappeport reported from Washington and Emily Flitter from New York. Emily Cochrane Contributed to reporting from Washington.

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